Compensation for referral?

[David Smith]

Hi All,

I have a friend who lives in New York who just agreed to put up $115k into a deal I found through another friend who lives in Florida. It's going to be a flip that will turn into an estimated $30k profit for both of them. Other than connecting the two friends and being the middle man (because my friend in NY knows he can trust me) I haven't added any other value to this deal. Do you think I should be entitled to some sort of referral fee or similar? Both of my friends think so. I told them I'd ask in this forum what's common practice in the industry.

Thanks

[Kenton LeVay]

I mean...if both of you and both your friends think so, I think it's a good idea. I don't know what the industry standard, 'finder's fee' for something like this would be but I'd say you three decide what's fair amongst yourselves and roll with it on this deal. Best not to get too greedy and potentially soil future business.